sachinlanke

INFOSYS Bullish Trend is underway

Long
NSE:INFY   INFOSYS LTD
Double Bottom has been formed on daily charts of Infosys hinting a bullish trend in coming days. Weekly trend is also UP.

But in short term, a bearish divergence is formed which can lead to a small correction/sideways movement in coming days and then it may continue it's long term bullish trend .

Buy is suggested post correction.
Comment: Bullish reversal has taken place last week.

Targets for this week are

Target-1 = 1050
Target-2 = 1065

Stoploss = 995

Comments

I think most of the IT stocks will react negatively UCSIC news of H1B visa suspension. Personally I think it was expected news and the stock should have priced it already but one never knows.
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sachinlanke lchowdhary
@lchowdhary,

True..This news can lead to correction in price in coming days. But post that, this will be trend reversal and stock will gain in price substantially.
Reply
Uptrend continue above 1044 till 1060,1120
Reply
Yes -it is very much close to my analysis.Thanks
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